SG Americas Securities LLC Buys Shares of 12,589 Cipher Mining Inc. (NASDAQ:CIFR)

SG Americas Securities LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,589 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds also recently modified their holdings of CIFR. Vanguard Group Inc. grew its position in shares of Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares during the period. Millennium Management LLC boosted its holdings in shares of Cipher Mining by 122.8% in the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after buying an additional 2,938,184 shares during the period. Van ECK Associates Corp increased its position in shares of Cipher Mining by 0.8% during the second quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after acquiring an additional 22,086 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Cipher Mining by 94.9% during the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after acquiring an additional 1,090,811 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Cipher Mining by 243.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock valued at $2,279,000 after acquiring an additional 389,079 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Down 4.8 %

CIFR stock opened at $5.39 on Wednesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 89.83 and a beta of 2.25. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $7.99. The business has a 50 day moving average price of $3.86 and a two-hundred day moving average price of $4.23. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $39.17 million. During the same period last year, the business earned ($0.05) earnings per share. Analysts anticipate that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CIFR. Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research report on Thursday, August 29th. Macquarie assumed coverage on Cipher Mining in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 target price on the stock. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Needham & Company LLC lifted their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, August 14th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.21.

Insider Activity

In other news, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total value of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at approximately $3,135,173.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the transaction, the chief operating officer now directly owns 717,431 shares in the company, valued at approximately $3,135,173.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value of $6,220,000.00. Following the transaction, the insider now directly owns 99,047,588 shares in the company, valued at $616,075,997.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,943,078 shares of company stock valued at $23,609,769 in the last quarter. Company insiders own 2.25% of the company’s stock.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.